September data indicated another strong recovery in UK service sector activity, but severe supply constraints contributed to escalating inflationary pressures and the slowest rise in new orders since the end of the winter lockdown. Rapid rises in fuel, energy and staff costs were passed on to customers in September. The rate of prices charged inflation accelerated sharply since August and was the fastest since the survey began in 1996. The headline seasonally adjusted IHS Markit/CIPS UK Services PMI® Business Activity Index registered 55.4 in September, up slightly from August's six-month low (55.0) and well inside ... (full story)